TNT – Tony Wednesday

T = TONY | DC = DC GUY | C = CALLER | W = WHINER | GWB = GURU WANNABE | POPWNPFTPTB = PISSED-OFF PERSON WITH NO PATIENCE FOR THE PTB

TONY – Good afternoon, TNT. It’s Wednesday, September 10, 2014 and yes, it’s Pam’s dad’s (Marvin). So Happy Birthday to Marvin – 88 and going strong! His wife is 25 years younger than him so he’s really enjoying life. Today is going to be a little different than today’s call and we’ll go thru that scenario, discuss somethings others have said, and discuss the future of TNT.

T – I will try to let you know why we are not at the bank this minute.

DC – Onto good ole Iraq east to west. So, the GOI was fully seated except for the Defense and Interior Ministers. Some of the resistance has melted away. Abadi is making great progress. They did vote on their agenda and it passed with a majority. They have made a lot of progress on the budget, just like they do in other countries, dividing it up into sections and walking thru those as we speak.

DC – Is that related to the RV? No. The RV has been in the budget since 2010, at least for the past 4 years. In past articles it has been pointed out. It is my strong opinion that we’re not waiting on the budget but it is important.. It doesn’t get released until the RV happens. Prior budgets for infrastructure have been adding up and they will all be released to be spent in Iraq over many years

DC – The ISIS Coalition is building to take care of them. Other countries are helping. POTUS is speaking about that tonight. I don’t know if any economic reforms will make it into the speech. Part of the deal everybody has agreed to is that the revaluation will be a stabilizing force. The CBI has signaled to everybody to be ready – “get ready, it’s our call when we’re going to get this done.” Once they pull the trigger they are not tolerating any delays

DC – The world’s Central Banks, security, etc. are ready. The process has been reviewed and ready to go. Banks are ready and the process is being coordinated by the IMF/BIS and Iraq. It can be done at any minute, any time. There are some last-minute agreements with federal folks, mainly NATO guys and the USA, who asked for 24 hours to settle in with it (on Monday). Because of some “clean-up” actions over the weekend, Iraq needed at least 12 hours. They said they’d give them 24 hours earlier in the week, which started the banks to get ready.

T – So, let’s review. The Parliament had 5 separate votes at 5 different times. Everyone was happy and voted in. Even when everyone was voted in there were 2 complaints about 2 ministers. But this morning everything was completed.

DC – Keep in mind that those 2 positions have not been filled in over 4 years.

T – But there are no more proxies in place.

T – All over Dinarland people are hearing – it’s not coming from us – that there was a request right after it was done for Iraq to wait another 3 months. Our understanding is it was broken down into hours.

DC – Several folks said the US was manipulating a block and trying to hold it off until January. But they were not successful. They have been blocking it since March. We have told you many different times. It’s raw politics as well as other legitimate reasons. I personally disagree and believe that the USA stopped most of their hard-nose negotiations in late August with the signing of a doc 3 weeks ago.

DC – Plan A was if the USA pushed this thru and stopped playing rough and forcing things to get messed up. I’m not saying right or wrong. We are not crapping on the Admin. There were reasons for it being done. Maliki is dirty as hell and he made ISIS who they are and started that phase. In August they finally all said “uncle” – stop this stuff. Then the USA basically supported this and we went thru the steps: (1) Obama would not have signed the doc 3 weeks ago if he wanted to screw it up. (2) Rough play in the technical and procedural levels stopped. The CBI staff at the Fed, UST and everybody else is now pushing and getting it ready to go.

DC – Were there people in the Admin who wanted to delay it after Obama signed it? Yes, but they are not the boss. There will always be people fighting this. But it’s a matter of when Iraq takes charge of it.

T – We had a global meeting 3 weeks ago for a teleconference. POTUS interrupted his vacation for the big meeting and everyone signed off in front of everybody.

DC – If the USA plays rough, then they agreed to go to Plan B.

T – We’re past that now. Actually authorizations and releases were made in the system and the entire process was released, with one last event to occur. They went thru the election process and expected to see the RV.

T – Instructions have been given in the past 24 hours about roll out procedures, times, places, etc. Everything says this is about to happen now. Banks all around the world received a memo/update to “get ready.”

DC – They pushed back against the IMF/BIS and asked for 24 hours, and the IMF said “NO – get ready now.” We are absolutely waiting on them.

T – I just received a text from Iraq: “they are partying in the street, ISIS is to be driven completely out. My dad’s friend at the bank expect Tuesday to be a grand day for all.” I just read Tuesday but we know it could go at any moment. It should be before Tuesday.

DC – Our info suggests before Tuesday. They are being told something else over there and we know it’s going forward. The POTUS will address who is going to handle the different aspects of the coalition. They believe the RV will be a stabilizing factor.

T – Another factor out there is that some people think it could be like Kuwait – 10 days to go public. If Iraq goes like that, it would be this Friday. Things were triggered on the 28th of August. By our calculations a roll out period ends this Friday. That’s when the timeline ends. Tuesday is what Iraq is hearing. We’re still in the 2014 budget and it included the RV/RI.

DC – They would really like to have the RV done prior to passing the new budget. Is the budget related? Yes. But it’s not a requirement.

T – They hold the power but are now being asked – not demanded – of something else.

DC – They asked for 24 hours and agreed for that to clean up their own problems.

T – It is our belieft that tomorrow would NOT be a good day for this to happen (9/11). We think the world will be respectful of tomorrow. So we believe it will be today or Friday. It is sitting there ready to go. Banks brought people in all times yesterday for briefings and instructions.

DC – If this was going to be on Tuesday/Wednesday/Thursday next week, why would you have meetings at 8:30AM on a Tuesday the week before? They’re not idiots. They’re basically prepared for this morning going forward.

T – We’re ready to go. Literally the clock started this morning and it could go at anytime. They know they can use their cards internationally now, so it can’t be another 90 days. Even with the 10 days, that’s this Friday. Even waiting on the budget puts us to Tuesday. But we don’t think we are waiting for that.

T – Because we think we’re ready and there’s nothing else to do, we’re going to talk exchange strategies. If they’re going to make us wait a few more days and we’re not under NDA, we might as well talk strategies.

NOTE: “PAY IT FORWARD” IDEAS WILL NOT BE TRANSCRIBED HERE. WE ALL HAVE WONDERFUL IDEAS, SO LET’S SHARE THEM HERE! ONLY INTEL-RELATED AND EXCHANGE STRATEGY INFO/Q&A WILL BE TRANSCRIBED.

C – Will all banks provide off-site exchange centers?

T – I think they will use locations out of the public view

C – Will the Parliament return on the 16th?

T -They are meeting right now. They’ve done that for years, saying they’re out on vacation but they’re still working.

C – Are their Qi Cards international right now? If an Iraqi had 1000 dinar and they are here in the USA, they would get the USD exchange rate?

T – That has already happened here. 2 people in NC used their card.

C – Regarding the contract rate, how many rates will be available?

T – There are 3 different rates that will be offered to the general public as contract rates. Each one of them negotiated their own rates, so there could be 20-30 rates they negotiated years ago. Some of them will be very disappointed if they are getting lower rates.

C – So there will be 3 public rates and there are numerous contract rates that have been negotiated prior to today?

T – Yes.

C – Have you received any packages?

T – The word from bank personnel is that their packages have arrived, but I don’t have mine.

DC – At this point, I don’t believe we will be given an actual package to use to brief you, primarily for legal reason. I think there will be other forms, websites, avenues, etc. They don’t want us causing distractions for a 1/4M people.

T – But that might open the door for us to talk about what we want to anyway. If they wait 10 more days we’ll talk about it.

C – I have a corporation. Is there a way to put my dinar in the corp and get the different rates?

DC – It depends on the corporation type. It will be pretty straightforward like it will be for a person. You call the 800# and tell them you need to CE, take all your docs with you indicating you are the legal rep for the entity, that says you can do the CE for the corp then you are fine. I’m not an attorney. I had my trusts and entities buy the dinar up front. If not, talk to an attorney to get those into your trusts or corps legally.

T – If you haven’t done that yet, you need to do that NOW before the announcement. If you need gift letters, get those NOW.

C – Will you be able to post the 800#s?

DC – Bank Call Centers are staffed and manned and we believe we will be able to point you to a website or something to get you to the numbers.

C – Will you be able to post the 800#s?

DC – Bank Call Centers are staffed and manned and we believe we will be able to point you to a website or something to get you to the numbers.

C – We’re hearing rumors that Shabbibi may be brought back in. Your thoughts?

DC – He is highly involved and it is unlikely he will be re-appointed as Gov of the CBI. He will be involved and it will be smart to pay attention to him.

C – The UN Operational Rates are scheduled to change tomorrow for the 15th. Should we watch those?

DC – The UN staff is ready to go when given the signal to change the rates.

T – It is unusual for them to be changed so early (tomorrow) for the 15th.

C – Is there any new info on the ZIM?

DC – Not, it’s the same.

C – Will all the Zim currencies go at the same time?

T – All I know is the AA, 88, 89? Not sure exactly.

C – Max exchange for the dinar and dong at contract rates?

DC – We know it changed. Our info is the same as it has been for months.

C – Is 5/3 Bank still involved?

T – Yes they are. Very involved.

C – If you had great insight and inside info, how would you adjust your portfolio between the dinar, dong, zim, and rupiah?

T – In my opinion I’d buy more dong and zim.

DC – I would load up on dong and spread it out and buy some dinar as well. That’s what I’m comfortable with. Others are more speculative. It couldn’t hurt to buy all four. The greater return will be on the dong. The safer bet is the dinar.

T – Some have restrictions, so there is lots to weigh.

C – I’m looking at reinvesting at other currencies post RV…ones I’m looking at and some are very promising…talking to WF, they only offer some currencies and Sterling, too…some are very undervalued and I’m trying to get hold of them. Do you know any avenues to get hold of them?

DC – Travelex at international airports are good. Go to the country to buy, but get legal advice because you could trigger law enforcement carrying a lot of currency between countries. Be careful.

C – There is a rumor that we will have to go to exchange centers instead of banks. Will banks still do exchanges?

DC – Yes, some exchange centers will be in banks, some won’t. They could send you to another department set up for exchanges

C – When you gift money is the $14K gift per person for a year or a lifetime?

DC – One year. It’s best to talk to an estate attorney in your state.

Families weighing the tax implications of monetary gifts should be aware that the yearly limit on how much a person can give to another person without paying a gift tax or raising a portion of that donor’s gift tax credit will not increase for 2014. In 2013, the IRS raised this limit, known as the annual gift exclusion, to $14,000 from $13,000. This number can be doubled by married couples, who can combine their annual exclusions and thus give a sizeable annual cash gift with no tax liability or use this credit. For instance, a couple with one adult child who is married with one child could give $28,000 to their son/daughter, $28,000 to the child’s spouse and $28,000 to their grandchild. What happens if you exceed those limits? If you do, the gift would go toward reducing your lifetime gift exclusion of $5.34 million, which the IRS raised for 2014 from $5.25 million this year. Once a person’s lifetime exclusion is exceeded, a gift tax of up to 40 percent will apply to you or your heirs.

C – Was it agreed among the nations that “it” will not take place tomorrow because of 9/11?

T – We can’t say an agreement was made. It just seems like the right thing to do.

C – Is there a chance it could happen tomorrow?

T – Let me give you my opinion. Some people say it could be a good day, others say it could be a bad day. A lot of people see it as a Memorial Day, especially in NYC. It would not go over well at all if people here saw those in the ME celebrating with fireworks. That’s just my opinion.

DC – I agree with Tony. I don’t think it would be given much credibilty. That doesn’t mean at 2AM or 5AM they wouldn’t, just not in the middle of the day. But that’s my opinion.

T – They could do it this afternoon and it just be a blip in the sky because their cards are already loaded.

DC – There would be some lead-time before any celebrations would start. Would you want to get paid first then party?

C – I have a really good friend having bankruptcy issues with things due by the 15th. He’s getting nervous. RK is saying Obama is holding it up until after the 1st of the year. Then Wildduck says Mtn Goat is off by a few days. Why would Obama want to delay it?

DC – A delay until July 1 put the GDP increase in the quarter before the mid-terms. Then ISIS messed things up and Maliki let it get out of control. One person in particular (not the boss, but someone the boss listens to) wanted to move it to January. My friends can’t believe this has been held off this long. Other reason are they feel Iraq needs to be very, very stable, ISIS beat, and they want to concentrate on the mid-terms. I didn’t agree with the delays but I’m not the boss. It’s a mixture of raw politics and the stability of Iraq. The pendulum swings back and forth daily. But the vast majority of people got behind the boss (Obama) and agreed to push it forward. Most of the delayers are switched and ready to help

C – Do you think it will be done by or before the weekend?

DC – I don’t believe it has to be by the budget. Every budget has had it loaded in there for many years. Plus, memos have been sent to banks worldwide yesterday that they are absolutely ready and they are not waiting on political decisions. I don’t personally believe it will drag out until next Tuesday. They are absolutely ready. The amount of people, staff, money, etc. are in the right places to get this done quickly. It’s not like they have to do anything. Everything is already done.

T – The laws they are addressing now are to make some people happy, but they don’t have anything to do with this. It’s minor, minor stuff.

C – Do you think with all these agreements out there, did they have their big celebrations and are the important people still there?

DC – They did have some last week.

T – We got calls from over there this morning that people are happy and they don’t know why we’re not seeing it.

C – We were told by bankers that, because of the Patriot Act, if you open a new account using foreign currency you have to wait 24 hours to use those funds.

DC – It’s up to the bank’s discretion.

T – Worse case scenario, you’re staring at a million dollars you can spend tomorrow.

T – There were times this could have gone without a hitch. There were times this should NOT have gone because it would have adversely affected the USA. Sometimes they had legitimate reasons. Obama has been blamed for 4 years for stopping this. But 4 years ago the world wasn’t prepared. I’m not making excuses, just being a realist. Some personal agendas have been involved. Obama can’t do anymore – he had his 8 years. It has to be someone else’ agenda. A lot of things needed to be done to protect you, specifically banking laws. Some delays were done to protect you.

C – Are we still on Plan A?

DC – Yes. Plan A was the US helping push it along. It had a max of 2 weeks, but we’re in the 3rd week. In the past week it’s been mainly Iraq as the hold-up and some dignitaries getting involved. But the US is still actively supporting it.

C – I read on the internet that the Kurds said this would be a 3-month trial and if they didn’t like it they’d pull out.

DC – It’s a lot of talk, not a lot of action.

RECAP: DC – Iraq is very ready and they have told everybody to be ready because it’s now their call. Banks met until late last night to get ready. All the security, law enforcement, etc. have met and are ready. There has been talk about the Admin delaying it, but at this juncture we believe they are supporting it. There will always be folks fighting it. Iraq has it, they’re sending out memos letting people know it’s happening when they are ready, on their timeline. In our opinion, we feel they will be respectful of 9/11 (middle of the day). There were some legal actions taken on the 28th of August allowing the dinar to be taken international with a tight timeline for it to be available to us.

T – Latest update from Iraq, scrolling on bottom of TV, saying they have a stable Iraq, a new Iraq. We’re here and happy. We know there is a timeline. Some will try to steal your dreams, but don’t let them. Everything has been accomplished and they’re just doing short-term favors to not release it. If we have to do another call on Friday it will be about options, scenarios, etc. I don’t expect it tomorrow, but we knew the gates are wide open as of this morning. They were told to BE READY, NOT GET READY. Enjoy the rest of your day. I’ll tweet if necessary.

END OF CALL.

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